- ASX 200 rallied 36 points to 6998 (0.5%) after two days of losses, Banks rebounded with the Big Bank Basket back to $171.40 (0.4%). ANZ the standout, up 1.6%. MQG rallied slightly but still lots a little underwhelming. Insurers better with ASX slipping 1.4%. Healthcare flat as CSL fell 0.4%, RMD down 1.2% and SHL doing well on results up 6.2%. Industrials a little lacklustre, TLS ex dividend, GMG slid 2.0%, WOW and staples eased with EDV finding some support after the rout yesterday. TCL down 0.4% and BXB drifting 1.1% lower. In resources, iron ore strength as BHP continue to hold up well, up 1.1%, FMG up 0.4% but RIO down 0.5%, S32 up 2.7% and lithium stocks bubbling away. MIN up 3.0% and PLS forgoing ahead 6.1% despite broker downgrades. Oil and gas stocks doing well with WDS up 3.4% and STO up another 2.1%. Coal stocks continue to play well, WHC up 1.9%. In the tech sector, WTC shot the lights out with results up 12.8% dragging the index up 1.5%.
- In corporate news, results in abundance, ILU up 9.8% on good numbers, EML fell 10.6% on fraud issues., NWL rose 7.0% on its numbers, DMP saw a 7.6% gain as Don charmed the market on cheese falls. HSN fell hard on disappointing numbers, off 13.3%, COL dropped 4.6% as staples coming under inflation pressures. WGN down 19.3% hard as profits not set in concrete. Super Thursday beckons for results tomorrow. Nothing on the economic front. Asian market soft on Chinese woes. Japan down 0.5% China down 1.2% and HK down 1.3%. 10-year yields flat around 3.60%
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.